If to produce 1 car Claire experiences an opportunity cost of 15 boots, and Mitch experiences an opportunity cost of 10 boots. Which of the following is true? O Mitch has a comparative advantage in boot production. Mitch has an absolute advantage in boot production. O Mitch has an absolute advantage in car production. O Mitch has a comparative advantage in car production.

Q: Question attahed in image

A: Answer - Given in the question -

Q: Pat and Kris arc roommates. They spend most of their time studying (of course), but they leave some…

A: Opportunity Cost is referred to as the benefit that is forgone which could have been derived by an…

Q: Robinson Crusoe can gather 10 coconuts or catch 1 fish per hour. Hs friend Friday can gather 30…

A: Absolute advantage is the capability to produce more of a given product or service than it's…

Q: a comparative advantage in growing tomatoes if om's marginal benefit from tomatoes is greater than…

A: Tom and Debra are the only people in an isolated village who grow tomato and lettuce.  Comparative…

Q: Corn (lb)                  Scarves(#) U.S.                                        20…

A: Opportunity cost is the ratio of loss in scarves and gain in corn.

Q: föllowing production possibilities frontier for a country to answer the following questions. Which…

A: The curve that shows a combination of the level of two goods that can be manufactured using the…

Q: opportunity costs t each tood tem for both Carolyn and Jen Carolyn, the opportunity cost of a…

A: DISCLAIMER “Since you have asked multipart questions, we will solve the first three sub-part…

Q: Lili can do 60 econ or 40 math problems in 1 hour. Alan can do 50 econ or 30 math problems in one…

A: Comparative Advantage means an individual can produce a specific product at a lower marginal…

Q: In USA one unit of labor can produce 25 computers or 25 bushels of wheat. In Thailand one unit of…

A: Since you have posted a question with multiple sub-parts, we are answering the first three sub-parts…

Q: I am eight hour day Andy can produce either 24 loaves of bread or 8 kilograms of butter. In an eight…

A: Given: Andy can produce either 24 loaves of bread or 8 kilograms of butter. Rolfe can produce either…

Q: Use the table to answer the question:   Corn (lb) Scarves(#) U.S. 20 10 Mexico 25 5 What is the…

A: Opportunity costs represent the potential benefits a personal, investor, or business misses out on…

Q: Suppose two countries produce the same twogoods and have identical production…

A: Production possibilities frontiers are used to represent the trade-off that occurs between the…

Q: In theory of comparative advantage, which statement is correct O a a country should produce all…

A: The theory of comparative advantage in international trade is given by David Recardo.

Q: Sonya takes 5 minures to iron a shirt and 10 minutes to type a paper. Grace takes 5 minutes to iron…

A: The opportunity cost is the cost of the next best alternative when the good is put to the…

Q: American and Japanese workers can each produce 4 cars per year. An American worker can produce 10…

A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the…

Q: (a) In the Bahamas, what is the opportunity cost of a ton of pineapples, and of a ton of rice? (b)…

A: Opportunity cost is the best next best cost , or next best alternative called opportunity cost, so…

Q: b. Kelen and Chris produce rice and wheat. In an hour, Kelen can produce 1 unit of wheat or one unit…

A: Absolute advantage is when a country can produce higher goods and services in absolute terms than…

Q: American and Japanese workers can each produce 4 cars a year. An American worker can produce 10…

A: Opportunity cost: opportunity cost, or elective expense, is the deficiency of likely addition from…

Q: Lawns Mowed Gardens Cultivated George (В 10 B 5 D Jack Table 2-5 shows the output per day of two…

A: Given  In one day, George can cultivate 5 gardens or move 10 lawns. Whereas Jack can cultivate 4…

Q: Pat and Kris are roommates.  making pizza and brewing root beer. Pat takes 4 hours to brew a gallon…

A: Opportunity cost is the value of next best activity forgone. For example, say, a student has 2 hours…

Q: The accompanying tables give production possibilities data for Gamma and Sigma. All data are in…

A: Answer: Correct option: option 4 (40 tons of Tea) Explanation: A producer will have a comparative…

Q: uppose the land of Hardheart can make 2 goods, hamburgers & hot dogs, as listed below.  Define…

A: Given  Production schedule    A B C D E Hamburgers 0 50 120 180 250 Hot dogs 210 135 85 40 0

Q: Pat and Kris are roommates. They spend most of their time studying (of course), but they leave some…

A: Opportunity Cost   1 Gallon of root beer  1Pizza Pat 2 pizza 1/2 Gallon of root beer…

Q: 2. During the day Deborah can either clean 20 carpets or wash 40 cars. Draw her production…

A: We will solve the first question only. The second question is subjective in nature, which we do not…

Q: (B) Sara can produce 50 bags or 500 apple juices in an hour, John can produce 150 bags or 250 apple…

A: Comparative advantage means a country or firm able to produce a commodity At a lower opportunity…

Q: Suppose a worker in Germany can produce 15 cars or 5 tonnes of grain per month. Suppose a worker in…

A: “Hey, since there are multiple subparts questions posted, we will answer the first three subparts…

Q: Country Jeans Corn     Felicidad 8 32 Bellissima 12 24 Felicidad's opportunity cost of producing 1…

A: Given,   Jeans Corn   Felicidad 8 32 Bellissima 12 24

Q: In an hour, Megan can produce 5 fruit smoothies or 15 ice cream sundaes, w Jensen can produce 17…

A: A country is said to have  comparative advantage if it can produce the good at lower opportunity…

Q: Suppose that in the United States, the opportunity cost of producing a motor engine is 4 auto…

A: Opportunity cost is the value of what you lose while picking somewhere between two decisions. Right…

Q: Using the data presented in the table below answer the followings: a) which country has comparative…

A: "If a country has a comparative advantage in producing one commodity then it means that country can…

Q: Give an example in which one person has anabsolute advantage in doing something butanother person…

A: Answer: Absolute advantage: If a person is able to produce more goods using the same amount of…

Q: Comparative Advantage: Suppose that the United States and Switzerland produce bicycles and chocolate…

A: Country U has absolute advantage in both the products as production per worker per year is higher…

Q: a) Draw the Production Possibilities Frontier for Dennis and for Janice. Before trade, who (if…

A: Given,   Laundry Meals Dennis  20 30 Janice 20 20

Q: A) Which producer has the comparative advantage in producing puzzles? Geppetto or Lewis B) Which…

A: An economic agent is said to have a comparative advantage in the production of a good or service if…

Q: The following table shows per-day production data of rice and T-shirts for two countries, Cambria…

A: Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…

Q: Look at F where it says Liz has comparative advantage. Why is it that she has comparative advantage…

A: Comparative advantage is the ability to produce goods and services at a lesser opportunity cost when…

Q: Eggs Eggs 40 Johnny Frankie 30 20 10 RF 10 15 Milk 20 40 Milk Without specialization, Johnny…

A: When two individuals, firms, or countries make an exchange of goods and services using their…

Q: NAME: Chapters 2 & 3 Problem 1 Remember to show all work and briefly discuss your results. Minutes…

A: The opportunity cost is the best alternative use of a resource. It is the value of what one has to…

Q: Suppose, a labor in USA can produce 50 Computers and 50 Cars in a year. Whereas in Japan a labor can…

A: In USA a labor can produce 50 computer and 50 cars in 1 year. In Japan a labor produce 20 computer…

Q: The table below shows the maximum number of Pithas or Pizzas that Ayesha and Alina can cook in 1…

A: Alina and Ayesha can produce two goods pitha and pizza. The opportunity cost (OC) of a good tells…

Q: "he following table summarizes the combinations of goods X and Y that two individuals, Nicki and…

A: Since you have posted muti-subparts question, so as per answering guidelines,we will solve first…

Q: Fred bake cakes and pies. Bill's opportunity cost of baking 1 pie is 5 cakes. Fred's opportunity…

A: ‘Opportunity cost’ refers to the forgone benefit that can be derived from choosing another…

Q: You have a comparative advantage if you can complete a task: at a higher opportunity cost than…

A: Comparative advantage is when a producer is able to produce at a lower opportunity cost than any…

Q: Corn (lb)                  Scarves(#) U.S.                                        20…

A: Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…

Q: Question 2. Imagine the country of Zed, which has the following production possibilities curve:…

A: The production possibilities curve is all the possible combinations of output that can be produced…

Q: 31 of 100 According to economic theory, the actor with the OOOO higher; comparative advantage lower;…

A: Opportunity cost refers to a loss incurred by giving up the next best alternative while making a…